Close
Monday, May 12, 2025

Blomivest, Maskan progress $126m Riyadh scheme

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back

Related stories

SAMOTER 2026: Countdown To The Next International Construction Machinery Exhibition

Verona, 5 May 2025 – The countdown for SaMoTer, the triennial...

DOMOTEX asia/CHINAFLOOR 2025 exhibitor list is now online

The exhibitor list of DOMOTEX asia/CHINAFLOOR 2025, scheduled to...

Saudi Blominvest – a division of Lebanese bank Blom – has signed a deal with local developer Maskan Arabia to develop its entire $126.6m (SR: 475m) residential scheme in northern Riyadh.

An investment made through Blominvest-Maskan Arabia Real Estate Development Fund will see 292 houses built through three separate phases covering infrastructure works, building works and MEP/finishing works.

Speaking at the signing ceremony marking the event, Maskan Arabia CEO Eng Hossam Al Rashoudi said: “Signing the construction contracts is a very important step to start the implementation and development of the entire project and emphasizes our efforts to complete the project within the specified three-year time period.

“This step coincides with the achievements made by the company so far, with respect to the purchase of the project lands, the assigning of the consulting firm that will carry out the design works, and completing the rehabilitation of the main contractors of the project, which has quality features making it the leading housing project in terms of location, quality of and durability of construction, and elegant design.”

The project features more than 30 different villa designs.

 

 

 

Latest stories

Related stories

SAMOTER 2026: Countdown To The Next International Construction Machinery Exhibition

Verona, 5 May 2025 – The countdown for SaMoTer, the triennial...

DOMOTEX asia/CHINAFLOOR 2025 exhibitor list is now online

The exhibitor list of DOMOTEX asia/CHINAFLOOR 2025, scheduled to...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back